You're at the point in your life when you’re ready to buy a house - the only thing holding you back is your poor credit score. You can’t possibly get a mortgage when your finances are in shambles, can you? Actually, you can. It’s still possible to get a bad credit mortgage in Texas . Know your options so that you can find the lender who will work along with you to secure a mortgage.

Your first step is to know what lenders look for. When assessing your credit score, a mortgage lender will look at how old your debt is, the dollar amount of the debt and your payment history. If you’ve opened several accounts, maintained high balances or not paid your credit in a timely manner, this can affect your mortgage loan. The good news is that just fixing one of these problems will automatically make you a better candidate for a loan.

If you’re not sure exactly what you need to fix right away, ask your lender what the main problem is. Are they concerned about giving you a mortgage because you’re over your credit card limit? Make a big payment to get it under control. Are your taxes overdue? Contact the IRS to set up a payment plan. Are there collections agencies ringing your phone off the hook? Answer the calls and work out a deal with the collectors.

Never assume that you simply can’t get a mortgage because of bad credit. Most people can qualify for a bad credit mortgage in Texas. The only catch is that you might have to pay more. In the end, many people would still prefer to have a home with a high monthly payment than no house at all.

Capital City Mortgage Company

12416 Hymeadow Drive,
Suite 208,
Austin, Texas 78750
Telephone: 512 535 5193
Fax: 512 535 2896
[email protected]